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in israel with a bomb explosion on board a bus today and a rumored cease-fire that never happened. crude is up $1 as the secretary of state has arrived in cairo. a big day full of planes, trains and automobiles with tens of millions of americans set to embark on their holiday weekend journeys. our phil lebeau is in chicago with more on the holiday travel landscape. how painful is it going to be? >> you know, carl f you're traveling, you always need a little more patience thanksgiving weekend. for the airlines, they're keeping their fingers crossed because if you look at a map of the united states, you really don't see any major storm systems. that means if it's a smooth weekend, you talked about this being important to the profitability of fourth quarter, that's certainly good news for the airlines. take a look at the number of people who will be traveling this thanksgiving weekend. just under 44 million people. that's a slight increase from last year. the average amount they're spending, that's down 10%. less than $500. why? in large part it's because fewer people are flying. they're no
're still watching what is happening in israel and gaza. the conflict there and uncertainty remains. focal point of many traders. the reason why perhaps we're not pulling back even further although many are anticipating we are going to see an increase in u.s. crude oil supplies when the energy department reports its numbers tomorrow. we'll monitor israel's situation because that's likely to have a very important effect on the oil price in this session. gold continues to trade in a range here. ubs saying there needs to be a significant breakout in this range for oil to have true momentum and on this short holiday week, it appears that many traders are just trying to cover their short positions and not really taking out new bets a at the moment but there are some taking out significant bets and there have been reports that george and john have added to their gold holdings. we have reported that gold etf holdings are at record levels. there are many that want to be in this complex but of course still right now we are looking at a slight pullback in the gold price right around 1730 an ounce. >
. protesters accusing him of a coup. all eyes of course on egypt, as well as israel and gaza where the cease-fire is still in place. oil prices also saw additional port on the news out of europe, optimism over greece today. west texas intermediate closing above $88 a barrel, up 1% in this short rned session. brent risie ining as well but slightly less than that. >>> nonetheless, energy prices apparently are about to get lower. our next guest is talking 70s on crude for next year. john, why are you so bearish on oil for next year? >> a couple of things. global economy doesn't look all that great for next year particularly in europe. they have a lot to get together, the greece situation. we're also now -- >> it's going to get worse than it is this year. >> yeah. iea, opec itself all looking for demand declines next year in terms of growth. also, two things that bedevilled the brent market this year, troubles out of the north sea, constantly having problems with production. once that comes back online for any length of time, lower prices. similarly, i know all the debate is around the keystone
fighting escalate in the gaza strip as we continue to watch what israel and what palestinians are doing in the area and the fact that there does not appear to be any cease-fire on the horizon although egypt's prime minister is in gaza today urging some international cooperation. we're also looking at the fact that oil prices here in the u.s. have basically erased this week's losses because of the gains that we're seeing currently in the oil complex. we're also hearing reports about iraqi enjoy saying that arabs should use oil to press israel over gaza. those headlines helping to cause this bid in the oil complex. in the gold market, we've seen steady declines over the last several sessions and now a little bit of stabilization in the gold market. there are concerns based on the world gold council report about demand particularly out of china. we've seen the cme lower margins for gold and silver so that may have an impact on the trading activity from here. carl, back to you at the white house. >> all right. thanks so much. in a half hour from now the president will hold key meeting with
, between israel and hamas and the islamic jihad. more power in two minutes. ♪ ♪ ♪ [ male announcer ] 'tis the season to discover the kid in all of us. the memories that last, start with the gifts that last. ♪ enjoy free shipping and great values on your holiday shopping from l.l.bean. [ engine revs ] ♪ ♪ [ male announcer ] the mercedes-benz winter event is back, with the perfect vehicle that's just right for you, no matter which list you're on. [ santa ] ho, ho, ho, ho! [ male announcer ] lease a 2013 c250 for $349 a month at your local mercedes-benz dealer. at your local when we got married. i had three kids. and she became the full time mother of three. it was soccer, and ballet, and cheerleading, and baseball. those years were crazy. so, as we go into this next phase, you know, a big part of it for us is that there isn't anything on the schedule. if we want to improve our schools... ... what should we invest in? maybe new buildings? what about updated equipment? they can help, but recent research shows... ... nothing transforms schools like investing in advanced teacher education
and we have geopolitics and israel saying they won't take direct hits from syria. that is something that the market has been watching very closely as well. the big story that has long-term ramifications for the u.s. oil industry and for the global energy trade is definitely the report today from the international energy agency where they said that they believe that the u.s. will become the top oil producer in the world by 2020. overtaking saudi arabia. overtaking russia and the fact that u.s. will be self-sufficient by 2035. this is a huge sea change in the debate that we've been hearing about the dependence on foreign oil, about green energy and the fact that we're looking at this share revolution is having an impact not only on oil markets but natural gas markets here in the u.s. and international energy agency highlighting this in their report. back to you. >> thank you very much. shares of disney getting an upgrade after getting battered last week. citi upgrading from buy to neutral. they are saying that lucas films acquisition will weigh short terms on profits but it paves the
Search Results 0 to 5 of about 6